SIA and R3 have launched a strategic partnership aimed at speeding up the global development and adoption of blockchain applications by leveraging SIAnet’s 600 nodes provided to financial institutions, corporates and public administrations.
As part of the partnership, SIA will build a network called SIAchain, which will be integrated with R3’s Corda platform to enable SIA customers to run CordDapps - applications designed specifically to meet the needs of institutions across the banking and finance sector. The first CorDapps on SIAchain will be available from the first quarter of 2018.
The main goal is to allow the use of CorDapps through the SIAchain infrastructure, which guarantees their full availability and use, ensuring a standardised operating context, to registered members of specific communities. Corda is an open source, blockchain-inspired distributed ledger technology (DLT) platform. Applications on Corda use common code and protocols.